Kategorie: Crypto News

• Bio Protocol price rose more than 50% as bulls defied broader market selling to hit $1.46
• Despite overall sell-off pressure, BIO price is up double-digits in 24 hours as volume spikes 720%.
• BIO has benefited from key network developments, including staking and partnerships.

The price of Bio Protocol (BIO) shrugged off a broader crypto downturn to lead 24-hour gainers on Monday.

With the project that’s targeting the decentralized science (DeSci) ecosystem hitting key milestones recently, buyers have upped the ante by pushing BIO higher.

BIO price surges nearly 50% to lead top gainers

The Bio Protocol (BIO) price saw a significant surge as top altcoins struggled amid profit taking.

With Bitcoin shedding gains to below $116k and Ethereum dipping to $4,200, the BIO token climbed nearly 50% to lead the top gainers.

Per CoinMarketCap, this put the decentralized science project among the 500 largest cryptocurrencies by market capitalization.

Notably, Bio Protocol traded up from lows of $0.10 and topped $0.15.

The uptick meant BIO defied overall declines across the market, with gains coming as its 24-hour volume spiked 720% to over $393 million.

Although BIO remains double-digits up with over 21% upside in the past 24 hours, it has dropped from the $0.15 high. This shows the overall market weakness as sellers drive it to around $0.12.

Bio Protocol has hit key network milestones

Bio Protocol has gained amid significant network milestones in the past week.

As the DeSci economy picks up, the Bio Protocol team has positioned the project for greater traction with the launch of Bio Markets.

The goal is a platform that brings real-time insights into projects within the Bio Protocol ecosystem.

Markets bring growth trends and in-app trading for BioDAOs, and Bio plans to expand trading capabilities to IP-Tokens and new BioAgents.

Staking activity has also soared, with over 125 million BIO tokens staked, up to 3.5% of the circulating supply.

As the Bio team recently noted, staking generates BioXP, a key component for participating in upcoming Ignition Sales.

Unveiling of Yapping BioXP, also set to go live in the app this week, includes a boost campaign for BioAgents, further incentivizing community engagement.

What does it mean for BIO price?

Bio Protocol also hit a major milestone with CLAW, Percepta’s IP-Token.

Meanwhile, Molecule’s development of its v2 protocol targets the bridging of traditional corporate structures with DeSci.

Listing on Coinbase, the top U.S.-based crypto exchange, allows for further institutional adoption.

“From Bio V2’s launch and 100M+ BIO staked, to Coinbase listing $BIO and VitaDAO advancing longevity trials, the past month marked key steps in AI-driven science and DeSci adoption,” Bio Protocol recently posted.

Achievement of these milestones could help bolster the price of BIO.

The post Bio Protocol defies crypto downturn with a 720% surge in volume appeared first on CoinJournal.

• Dogecoin price is down 5% in 24 hours to hover near $0.22.
• The DOGE price movement is similar to that of most altcoins that are seeing profit-taking.
• Analysts are bullish on DOGE as whale accumulation continues.

Dogecoin (DOGE) has experienced a slight decline in the past 24 hours, dropping to lows of $0.22 amid a technical pattern breakdown.

The top memecoin’s price movement mirrors the broader cryptocurrency market’s price action in the past few days.

Bitcoin dipping to below $117k and Ethereum paring gains from near its all-time high buoyed bears.

While profit taking is driving current downside pressure, analysts are bullish on Dogecoin amid whale accumulation, spot ETF anticipation and long-term crypto trajectory.

Dogecoin price dips amid profit-taking

The latest decline in Dogecoin’s price has seen it breach a critical support level, driven by profit-taking and overall investor uncertainty.

DOGE reached highs of $0.24 as bulls attempted a breakout after an uptick from lows of $0.21 in the past week.

But as investors, wary of macroeconomic uncertainties, took profits, the top memecoin’s price dropped from above $0.24.

The move aligns with a rising wedge breakdown, which has accelerated the downturn to the support level around $0.22.

Bulls could face more pressure towards the psychological $0.20 area.

Despite the bearish price action, on-chain data reveals large investors are buying the dip.

Whale wallets, which have historically scooped DOGE amid price dips, have added to their portfolios.

Aggressive buying by whales has seen such wallets approach 100 billion DOGE in the past few weeks, the trend picking up momentum in the latest dip.

This is an outlook that could help DOGE price higher.

However, the memecoin is likely to hit the rocks if the Dogecoin network suffers a setback from a potential 51% attack, which could undermine network integrity if executed.

DOGE price prediction

The technical outlook for Dogecoin remains largely bullish, despite its notable dip in the past 24 hours.

However, losses have compounded to more than 12% in the past month, and the breakdown below $0.23, a critical threshold, has opened the door to further downside risks.

DOGE has, on multiple occasions, failed to convincingly break above the $0.24 mark.

With this supply wall helping to repeatedly cap Dogecoin’s upward potential, bears have tried to take advantage.

The breakdown of the rising wedge means the next target could be $0.20 or below.

Broader market conditions deteriorating will embolden bears.

Conversely, bullish signs that could help bulls include the recently formed golden cross and whale activity.

The technical indicators on the daily chart also show that DOGE is above the middle line of the Bollinger Bands, and the MACD is also holding onto the bullish picture.

Daily RSI is suggesting extended pressure, though.

If buyers reclaim the $0.23 level, a retest of $0.40 and $0.65 is possible. Analysts say a breakout to $1 in 2025 is still possible.

The post Dogecoin price falls to $0.22 after pattern breakdown appeared first on CoinJournal.